The country's largest private bank HDFC Bank has released the results of July-September quarter on Saturday (19 October). After the results, this stock is seeing a great rise during the early trading on Monday. HDFC Bank's results have been better than expected. In the September quarter, the bank's interest income (NII) has increased by 10% on a year-on-year basis. During this period, the bank's profit has increased by 5.3%. This was the first quarter after the merger for HDFC Bank, when the figures could be compared on a year-on-year basis.

The asset quality of the bank remained stable in the September quarter. Gross NPA was 1.36%, a slight increase from 1.33% on a quarterly basis. Whereas, net NPA also increased from 0.39% in the previous quarter to 0.41%. After the results, many brokerage firms have issued notes on this stock. Global brokerage firm Bernstein's problems like increasing net interest margins (NIMs) and credit costs are becoming a concern for other banks. But, these are not problems for HDFC Bank. HDFC Bank is doing better than other banks. In the second quarter, HDFC Bank's net interest margin increased from 3.4% year-on-year to 3.46%. In the June quarter, it was at 3.47%. However, the brokerage firm also said that this bank needs to make a big compensation in terms of return on assets (RoA) and growth. Bernstein has set a target price of ₹ 2,100 per share with an Outperform opinion on this stock. Goldman Sachs has set a target price of ₹2156 per share with a Buy rating on this stock. This brokerage firm says that visibility regarding future earnings is better in the second quarter. The bank's core PPoP RoA stood at 2.7%. At the same time, Citi has slightly reduced the target price on the stock while keeping a Buy opinion on the stock. The target price has been reduced from ₹2,020 to ₹1,990 per share. This brokerage firm says that HDFC Bank has a better retail stress cycle than other banks. The brokerage firm has reduced the loan growth estimate for HDFC Bank. It has been reduced from 12% to 8% for business year 2025 and from 14% to 11% for business year 2026.